Citigroup Increases NetEase (NASDAQ:NTES) Price Target to $115.00

NetEase (NASDAQ:NTES) had its target price boosted by equities researchers at Citigroup from $108.00 to $115.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s price target points to a potential upside of 35.31% from the stock’s current price.

Several other analysts also recently weighed in on the company. StockNews.com downgraded NetEase from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Bank of America reduced their price target on shares of NetEase from $142.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Benchmark dropped their price objective on shares of NetEase from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Friday. Barclays reduced their target price on shares of NetEase from $104.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, August 26th. Finally, Jefferies Financial Group lowered their price target on shares of NetEase from $126.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.29.

NetEase Stock Up 0.9 %

Shares of NTES traded up $0.77 during mid-day trading on Friday, hitting $84.99. 1,120,679 shares of the company traded hands, compared to its average volume of 1,743,724. The company has a market capitalization of $54.58 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.57. The business has a 50 day moving average of $83.59 and a 200 day moving average of $89.09. NetEase has a 1-year low of $75.85 and a 1-year high of $118.89.

NetEase (NASDAQ:NTES) last posted its quarterly earnings results on Thursday, August 22nd. The technology company reported $12.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $10.43. The business had revenue of $25.49 billion during the quarter, compared to analysts’ expectations of $26.01 billion. NetEase had a net margin of 26.98% and a return on equity of 22.30%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.75 earnings per share. As a group, research analysts expect that NetEase will post 6.02 EPS for the current fiscal year.

Hedge Funds Weigh In On NetEase

Several institutional investors and hedge funds have recently modified their holdings of the business. Mather Group LLC. increased its position in shares of NetEase by 1,415.0% in the second quarter. Mather Group LLC. now owns 303 shares of the technology company’s stock valued at $31,000 after buying an additional 283 shares in the last quarter. SYSTM Wealth Solutions LLC raised its position in NetEase by 55.5% during the second quarter. SYSTM Wealth Solutions LLC now owns 328 shares of the technology company’s stock worth $31,000 after acquiring an additional 117 shares during the period. Ariadne Wealth Management LP purchased a new position in NetEase during the second quarter valued at $35,000. Highline Wealth Partners LLC acquired a new stake in shares of NetEase in the third quarter valued at about $45,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of NetEase in the third quarter valued at about $70,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

NetEase Company Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.